Alchevsk Iron & Steel Completes Continuous Casting Complex

The company has completed the first phase of a continuous steel casting complex. Concorde Capital: Alchevsk?s (ALMK: BUY) continuous casting complex will consist of two con-casting machines with an annual capacity of 2.5 mln mt of slabs each. The installation of the second machine will be completed in 2007. The estimated investments for this project amount to USD 400 mln. Viktor Yushenko will participate in the opening ceremony at the plant, which is owned by the Industrial Union of Donbass. Meanwhile, the leader of another business group, System Capital Management, Rinat Akhmetov, is having a difficult time with the new government.